CardioTech Acquires Gish Biomedical

In a transaction that will give the company needed resources to expand its manufacturing of new medical devices, CardioTech International, Inc. (Woburn, MA, USA) has acquired Gish Biomedical (Rancho Santa Margarita, CA, USA). Terms were not disclosed.

Gish Biomedical makes and markets cardiovascular and orthopedic products as well as vascular access systems. Gish's clean-room facility is 40 times larger than CardioTech's present facility and will be a valuable resource for the company's manufacturing activities. Combined revenues for the two companies are expected to reach about US$20 million in 2004.

CardioTech makes and markets cardiovascular tubing systems, arterial filters, and oxygenators. Two new wound dressings are in the pipeline. The company has also developed a polyurethane-based vascular graft for the treatment of heart disease and believes it will soon be one of only two companies in the world in human trials with this technology. "With the acquisition concluded, CardioTech looks forward to a strong presence in the high-visibility, open-heart surgery field,” said Dr. Michael Szycher, CEO of CardioTech.





Related Links:
CardioTech
Gish Biomedical